Year to date, strong buyer activity has driven a record-breaking pace of Closed Listings across Colorado. This July saw a slight shift in the housing market in some parts of the state as weary buyers enjoyed a long July 4th holiday weekend. Read on to view the latest REcolorado Market Watch reports for Denver Metro Area, Routt County, and Chaffee County.
Be the Market Stats Expert!
REcolorado offers a variety of tools so you can be the go-to expert with answers to your client’s market-related questions. Sharpen your market statistics skills with these training resources:
Live Online Class: Market Intel (2 CE) | Register >>
Denver Metro Area
Compared to last July when more homes sold than any other July on record, this year saw 17% fewer Homes Closed. Homes Closed was also down 7% compared to last month, due in part to a long July 4th holiday weekend. Strong demand kept prices high and inventory low, with homes spending a median of only four days Active in the MLS. Year to date, home prices continue to see double-digit increases with Single-Family homes up 22% compared to this point in 2020 and Multi-Family/Condo/Townhome prices up 14%.
Sellers brought fewer new listings to the market and fewer homes closed in Routt County this July compared to both last year and last month, but there was a 20% increase in homes moving to Pending status compared to last month. Home prices once again reached record highs in July, with Median Closed Price hitting $840,000 and an Average Closed Price of $1,187,726. At the close of July, there were only 83 homes actively for sale in Steamboat Springs.
Chaffee County saw fewer homes close year over year, but a 44% increase month over month. Home prices climbed 38% higher than last July, reaching $562,500. July ended with 78 Active Listings and 6 weeks of inventory available in Chaffee County. With homes spending a median of only four days in the MLS, New Listings continue selling quickly in Chaffee County, Buena Vista, and Salida.
REALTOR® Association Market Statistics
In addition to the market statistics reports produced by REcolorado, we provide housing market data and collaboratively produce statistics reports with local REALTOR® associations.